Salt Lake City Bookkeeping Blog

Genuinely helping people in business goes a long way. Business owners often ask us how we can help them. One question we hear regularly is "Exactly what do you do?" We try and help businesses in different ways. Our blogs are intended to teach you how to do bookkeeping, how to grow your business, and how to efficiently run your business. Be honest with yourself; does your business sell or help? The answer is both, right? However, if you genuinely try and help people your business will thrive. Here are four ways SLC Bookkeeping can help your small business.

Organize

A large part of what we do is organize small businesses; particularly the financial aspects of their business. Many business owners tend to neglect their bookkeeping until they have a real mess, and thus a real big problem.

The first thing we do with any new client is get a handle on their bookkeeping system. Every business is different and therefore everyone needs a custom bookkeeping solution. We look at your current system and also what your needs are. We then develop a customized bookkeeping solution that meets your specific needs and we deliver it in the most efficient way possible.

Plan

Then next thing we help people do is plan. So many businesses fail to plan in anyway. Plan where they are going, where they want to be, and when they will exit the business. Many businesses float along without any goals or intentions. Nothing is more frustrating than when a business owner has me look at their profit and loss and then they ask me "Am I doing well?" How the heck am I supposed to know; I don't know what your goals are.

We will help you develop a small business budget and forecast. Additionally we won't let you tuck it away and never look at it. Because we are maintaining your books on an ongoing basis we will be able to compare your actual results to your budget. We will then take those results and forecast out how that affects the future. This will allow you to pivot when you face challenges but it will also allow you to take full advantage of opportunities. What we are going to teach you is how to use your finances to grow your business.

Grow

Once you have an updated bookkeeping system that is being maintained as well as a budget and forecast the stage is set for growth. Now the key is to use your finances to help you make key business decisions. Instead of running your business on a hunch or your gut, run it based on facts like your actual performance.

As an example many business owners hire people when they are feeling busy, overworked, and overwhelmed. However, what most business owners fail to do is take a look at how hiring an employee actually affects their financial future. Take the actual cost of a new hire and put it in your forecast. Do you like what you see? Can you really afford a new employee?

We don't do bookkeeping just to punch a keyboard, print out a profit and loss and then shrug our shoulders when you ask us questions. We do small business bookkeeping to help other business owners grow.

Freedom

Another way we can help your business is by giving you more freedom. When you mention bookkeeping or accounting to a lot of business owners you often get looks of distress back from them. For many business owners accounting is intimidating and overwhelming because many don't understand it.

When we are handling your bookkeeping you get the peace of mind that the books are updated and accurate. This peace of mind gives you the freedom to focus on more important business tasks. You will also have the freedom to take some time off (I know a crazy thought) if you so choose. Outsourcing your bookkeeping will give you freedom to focus on other things in your business and in your life.

About Us

Businessmen by trade, adventurers at heart; we understand the difficulties of running a small business and balancing a fulfilling life outside of work. We want to make the same thing easy for you. We offer day-to-day financial planning, personalized mentoring, and consulting services that will help you better understand the financial needs for your business and plan to meet your long-term goals.